Turmeric futures prices rose by Rs 122 to Rs 7,700 per quintal today after traders created speculative positions, driven by reports of slowdown in sowing due to poor rains at producing regions.
At the National Commodity and Derivatives Exchange, turmeric for July delivery rose by Rs 122, or 1.61%, to Rs 7,700 per quintal, with an open interest of 8,820 lots. It ended 0.53% higher at Rs 7,578 per quintal in yesterday's trade.
Similarly, the spice for August delivery gained Rs 82, or 1.09%, to Rs 7,620 per quintal, with a business turnover of 5,735 lots.
Fresh positions created by speculators influenced turmeric prices at futures trade here.
They were made following reports of slowdown in sowing due to poor rains in producing regions, particularly, Andhra Pradesh, the biggest producer of turmeric.
